“Our real, sole job really comes down to producing experiences which are so compelling that we get consumers effectively to give us our time and stay with the game,” he said. “We’ve always said that both our revenue per daily active user and percentage paying is very much mirroring what the averages are in the sector.”
De Masi said the company has 600 employees in locations around the world and plans to launch more than 20 new titles, primarily in Apple’s iOS ecosystem.
Up 20 percent year to date, GLU Mobile stock closed at $3.78 per share, down 3.6 percent.
Joe Terranova of Virtus Investment Partners appeared skeptical.
“Ultimately, I think you have to look at the fundamentals of the company. You have to ask yourself: Do they have enough cash on hand? Are their debt levels low enough that they don’t need to raise more in terms of rolling out equity.”
Karen Finerman of Metropolitan Capital Advisors said the stock wouldn’t be her pick but that her company owned it.
“I think the idea that you can make something virtual and get paid real money, that’s a good model,” she said. “It’s not a big position for us, but it has worked.”
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Trader disclosure: On Feb. 29, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Najarian is long (AAPL); Najarian is long (INTC); Najarian is long (YHOO); Najarian is long (HPQ); Najarian is long (MSFT); Najarian is long (JOY); Najarian is long (SLV); Finerman is long (AAPL); Finerman is long (JPM); Finerman is long (HPQ); Finerman is long (NTAP); Finerman is long (GLUU); Finerman is long (IWM) Puts; Finerman is long (.SPX) Puts; Finerman is short (SPY); Finerman is short (MDY); Finerman is short (IWM);
For Karen Finerman
Finerman’s Fund is long (AAPL)
Finerman’s Fund is long (JPM)
Finerman’s Fund is long (HPQ)
Finerman’s Fund is long (MSFT)
For Ron Insana
For Dennis Gartman
Gartman is long Gold vs. Euro
Gartman is long Gold vs. Japanese yen
For Doug Kass
Kass is short (FXI)
Kass is short (AXP)
Kass is short (RGC)
Kass is short (HSIC)
Kass is short (EFA)
Kass is short (IWM)
For David Pogue
For Niccolo De Masi